Castlelake Raises $1.9B for Fund IV

July 20, 2015

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Castlelake has reportedly hit its $1.9 billion hard cap for Castlelake IV after five months of fundraising. Formerly TPG Credit Management, the firm had raised roughly $1.4 billion in early 2014 for its Fund III, which was generating an 11% IRR as of March 31. Castlelake focuses on special situations such as distressed assets in dislocated industries and non-performing loans (from website).